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UK Treasury reveals new plans for banking sector

The UK Treasury has today published a number of proposals with regards to the future handling of the UK financial markets. Specifically designed with the investment banking sector in mind, we could see the creation of a new insolvency regime, laws which would see key banking staff remain at a company during its wind down period and more regulations to protect client money. This move has been announced purely and simply because of the massive knock-on effect caused by the collapse of US outfit Lehman Bros in 2008.

If there is one thing which the UK regulatory environment has learnt over the last 24 months it is the fact that the financial sector is far more powerful than any one government around the world. There is now a need to break down its power, on a worldwide basis, and ensure that one potential collapse in a foreign land does not impact upon the whole worldwide economy. The Lehman Bros saga perfectly illustrates how the collapse of a once powerful company can have a domino effect on many other companies and many other investors.

Whether the new proposals by the Treasury go far enough remains to be seen but thankfully regulators seem to be looking to the future and possible worst-case scenarios which we may encounter.

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